Funding arb · Price arb /

CL

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 05:00 UTC+0.0005%/8h= +0.6% APRpaid last 24h +0.005%

Price spread now: Bullet against edgeX−0.028%67s7-day average +0.017% · you buy dearer than you sell

Net, funding: paid 7d − costs—under 7 days of funding history

Net, price: spread back to 7d avg − costs—prices read too far apart to compare

costs, in and out, $10k−$420.424% of the position

Long on edgeX Short on Bullet

What this pair did over the last

the charts below follow

Funding, last 3 days (all we have)+0.078%+$8 on $10k

Price spread, last 4 days (all we have)+0.052%+$5 · spread now −0.028%, 7d avg +0.017%

Together, before fees+0.130%+ Points / potential airdropedgeX: Active · farm board+$13 on $10k · with fees, hour by hour

Funding between these two exchanges is close to zero, so right now this pair is about the price spread alone: Bullet is 0.045% cheaper against edgeX than usual: you would sell low and buy high, −$5 on $10k if it goes back to its 7-day average of +0.017%. The two prices were read 67 seconds apart, so part of this spread may be the market moving, not a spread.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	edgeX CLUSDC	93.232	−0.0005	get 0.0003% / 4h	3h 43m	$524K	$308K	30x
Short	Bullet WTIOIL-USD	93.206	0	get 0.0000% / 1h	43m 49s	$19K	$242K	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Bullet against edgeX. Falling: the short leg gains. Rising: it loses.

latest

Price spreadloading…

Funding on every exchange

click an exchange to add or hide it

latest

How often the price spread is this wide · share of time at each level, last 7D show

Profit calculator

Position, each leg$Hold fordaysFee edgeXbpFee BulletbpOrdersPrice spread, now −0.028%Rate

Funding earned: $1.11
Price spread: −0.028% → +0.017%: −$4.55
Slippage, 4 orders: −$25.44
Fee edgeX: 4.5 bp × 2 orders: −$9
Fee Bullet: 4 bp × 2 orders: −$8
Net: −$45.88
Costs to cover: 0.424%
Break-even: 296.6 days

Slippage from edgeX: live order book, 10 min ago; Bullet: live order book, 10 min ago.

Cost to enter

taker fee + slippage from the mid, one side; closing costs about the same again

Leg	Half-spread	$10k	$100k	$1M	$5M
Buy edgeX live order book, 10 min ago	10.27 bp	14.8 bp −$15	15.2 bp −$152	21.4 bp −$2,145	doesn't fit
Sell Bullet live order book, 10 min ago	0.54 bp	6.7 bp −$7	18.1 bp −$181	doesn't fit	doesn't fit

CL on 36 venues

lowest funding first. Swap a leg: a good short leg pays more funding and is priced higher.

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Deribit WTIOIL_USDC-PERPETUAL	−0.0608%	1h	93.160	−0.078%	$199K	$370K	15x	as long as short
Aster CLUSD1	−0.0262%	4h	93.243	+0.011%	$24.1M	$67.0M	20x	as long as short
GRVT CL_USDT_Perp	−0.0192%	4h	93.168	−0.069%	$54K	$658K	25x	as long as short
Binance CLUSDT	−0.0173%	4h	93.230	−0.003%	$245.5M	$942.0M	100x	as long as short
Variational Omni CL	−0.0160%	4h	93.169	−0.068%	$13.4M	$10.8M	—	as long as short
Nado WTI-PERP	−0.0130%	1h	93.258	+0.027%	$964K	$642K	10x	as long as short
Bitget CLUSDT	−0.0122%	4h	93.208	−0.026%	$42.0M	$43.3M	100x	as long as short
Ondo Perps WTI-USD.P	−0.0118%	1h	93.110	−0.131%	$3.5M	$5.3M	20x	as long as short
Aftermath Perps WTIUSD	−0.0111%	1h	93.187	−0.049%	$2K	$27K	5x	as long as short
Kraken Futures PF_WTIOILUSD	−0.0061%	1h	93.192	−0.043%	$270K	$951K	25x	as long as short

Show all 36 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Gate CL_USDT	−0.0050%	8h	93.180	−0.056%	$21.0M	$50.9M	100x	as long as short
Coinbase International WTIOIL-PERP-INTX	−0.0040%	1h	93.190	−0.045%	$401K	$928K	15x	as long as short
OKX CL-USDT-SWAP	−0.0033%	4h	93.240	+0.008%	$42.7M	$102.9M	50x	as long as short
QFEX CL-USD	−0.0033%	1h	93.180	−0.056%	$2.3M	$1.8M	10x	as long as short
KuCoin CLUSDTM	−0.0010%	4h	93.263	+0.033%	$7.1M	$2.4M	50x	as long as short
Phoenix WTIOIL	−0.0009%	1h	93.230	−0.003%	$37K	$41K	20x	as long as short
edgeX CLUSDClong	−0.0005%	4h	93.232	long leg	$524K	$308K	30x
tradeXYZ xyz:CL	−0.0003%	1h	93.232	0.000%	$184.6M	$219.0M	20x	as long as short
dYdX WTI-USD	0.0000%	1h	93.272	+0.043%	$8K	$3K	5x	as long as short
Bybit CLUSDT	0.0000%	8h	93.240	+0.008%	$26.9M	$80.7M	150x	as long as short
RISEx CL/USDC	0.0000%	1h	93.264	+0.034%	$3.1M	$2.9M	20x	as long as short
Bullet WTIOIL-USDshort	0.0000%	1h	93.206	−0.028%	$19K	$242K	10x
gTrade (Gains Network) WTI/USD	L 0.0000% / S +0.0036%	1h	92.769	−0.497%	$5K	—	150x	as long as short
Paradex CL-USD-PERP	+0.0016%	8h	93.218	−0.015%	$16K	$367	5x	as long as short
Lighter WTI	+0.0032%	1h	93.224	−0.009%	$11.2M	$10.3M	20x	as long as short
Extended WTI-USD	+0.0032%	1h	93.270	+0.040%	$2.0M	$19.4M	10x	as long as short
StandX CL-USD	+0.0040%	1h	93.150	−0.088%	$736K	$2.9M	40x	as long as short
Vest CL-PERP	+0.0046%	1h	93.220	−0.013%	—	$313K	10x	as long as short
Polymarket Perps WTIOIL-USD	+0.0050%	1h	93.209	−0.025%	$1.7M	$1.3M	20x	as long as short
SoDEX CL-USD	+0.0050%	1h	93.200	−0.035%	$2.1M	$60K	20x	as long as short
Pacifica CL	+0.0100%	1h	93.235	+0.003%	$331K	$597K	10x	as long as short
ApeX Omni CLUSDT	+0.0100%	1h	93.280	+0.051%	$56K	$266K	50x	as long as short
Aevo WTIOIL-PERP	+0.0104%	1h	93.167	−0.070%	$4K	—	10x	as long as short
BloFin CL-USDT	+0.0205%	4h	93.200	−0.035%	$4.0M	$1.0M	50x	as long as short
GMX WTIOIL/USD [ETH-USDC]	L +0.0219% / S −0.0147%	1h	93.195	−0.040%	$81K	—	111x	as long as short
Injective WTI/USDC PERP	+0.0220%	1h	102.17	+9.582%	$19K	$11K	30x	as long as short